INNOVATION AS A FACTOR OF CREATING THE VALUE OF THEENTERPRISE

Abstract

Introduction. The phenomenon of globali­zation of competition causes an increasing inte­rest of the staff managing the value of the company. The increase in the value of the company is the overriding goal of all those inte­rested in the development of the company. It con­nects both investors, employees, suppliers and customers. Problem. One of them is proper innovation management. Hence the importance of innovative activity undertaken by enterprises, manifesting in undertaking various innovations and shaping the innovative climate in the enterprise. The aim of the article is to show the impact of determinants on the shaping of innovation pro­cesses and the growth of the company’s value. Methods. General scientific methods such as the systematic approach, theoretical generaliza­tion and comparison, analysis and synthesis were used in the research. Results. Innovation should be an integral part of the company’s performance. Openness, crea­tivity, realistic thinking are becoming apart of modern economic realities and the most impor­tant value of every company that determines its competitiveness. Changes occurring in the sur­roun­dings of the organization force enterprises are constantly adapting. Enterprises that can create and implement innovations can overtake these unexpected events, thus being able to prepare them accordingly. Changes take place every­where, and innovations allow you to adapt to them. Conclusions. Proper value management means that the company should concentrate on developing their main areas of activity in which has or may gain a competitive advantage in the market. The source of creation enterprise value is the value that a company can create for their clients including innovations, which at the same time is very common source of competitive ad­van­tage. Such a viewpoint focused on values for the client, not the product that the company has developed, is a breakthrough ineffectiveness of innovation management and the condition for the success of innovation strategies enterprises in building their value.